Pharma Industry
Industry: Email Alert RSS FeedRhodia Takeover Speculation Cooling Off.(DSM and BASF examine merger deals)(International Pages)(Brief Article)
Chemical Market Reporter, October, 2001
SPECULATION ABOUT a bid being mounted for Rhodia receded last week when DSM and BASF, both of which were reported to be possible purchasers, denied they are planning a takeover. Analysts consider Rhodia vulnerable to predators because of its low share price after a recent profit warning and its relatively high debt.
The possibility of a bid pushed up Rhodia's share price by 19 percent on October 22 before the French stock market regulator suspended its shares. Aventis, Rhodia's biggest shareholder with a 25 percent stake, was reported to be close to selling its shares, which could be used as a platform for an acquisition. DSM admitted that it inquired about Aventis' plans for its shareholding. "This contact has been of a preliminary and...
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